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Power Grid Corporation to invest 
550 bn in five years
Thursday, 06 September 2007, 19:30 IST
Kolkata: Power Grid Corporation of India (PGCIL), the country's principal power transmission company, will invest 
550 billion ($13.50 billion) in next five years for developing its transmission infrastructure.
"We are going to invest 550 billion in next five years for developing power transmission infrastructure in India," PGCIL director (projects) S. Majumdar told reporters here Wednesday, the day the company launched its initial public offerings (IPO).
He said 385 billion of the total investment would come from domestic and foreign borrowings. About 32 percent of this amount would be foreign borrowing.
The company is currently managing the National Grid with interregional capacity of 14,100 MW, which shall be enhanced to more than 37,000 MW by 2012. PGCIL has also taken up certain transmission lines and systems with private parties in public-private joint ventures.
The company has completed 101 projects and schemes altogether and it has 45 transmission projects in various stages of implementation. It registered 12.7 percent of compounded annual growth rate (CAGR) last year.
"We have submitted reports to the government for two ultra-mega transmission projects in Mundra and Sasan," Majumdar said, adding the net proceeds of the fresh issue shall be utilised for 15 identified transmission projects.
PGCIL has diversified into creating telecommunication network and transmission-related consultancy services.
"We have also targeted to break even the company's telecom business in the fiscal 2008. The telecommunication business generates only two percent of total revenue," he said.
PGCIL currently has 19,000-km fibre-optic cable network connecting 60 different cities across India.
Since 1995, PGCIL's consultancy division, which contributes six percent of the company's total revenue, has provided transmission-related services to more than 90 clients in over 225 domestic and international projects.
Source: IANS
550 billion ($13.50 billion) in next five years for developing its transmission infrastructure.
"We are going to invest 550 billion in next five years for developing power transmission infrastructure in India," PGCIL director (projects) S. Majumdar told reporters here Wednesday, the day the company launched its initial public offerings (IPO).
He said 385 billion of the total investment would come from domestic and foreign borrowings. About 32 percent of this amount would be foreign borrowing.
The company is currently managing the National Grid with interregional capacity of 14,100 MW, which shall be enhanced to more than 37,000 MW by 2012. PGCIL has also taken up certain transmission lines and systems with private parties in public-private joint ventures.
The company has completed 101 projects and schemes altogether and it has 45 transmission projects in various stages of implementation. It registered 12.7 percent of compounded annual growth rate (CAGR) last year.
"We have submitted reports to the government for two ultra-mega transmission projects in Mundra and Sasan," Majumdar said, adding the net proceeds of the fresh issue shall be utilised for 15 identified transmission projects.
PGCIL has diversified into creating telecommunication network and transmission-related consultancy services.
"We have also targeted to break even the company's telecom business in the fiscal 2008. The telecommunication business generates only two percent of total revenue," he said.
PGCIL currently has 19,000-km fibre-optic cable network connecting 60 different cities across India.
Since 1995, PGCIL's consultancy division, which contributes six percent of the company's total revenue, has provided transmission-related services to more than 90 clients in over 225 domestic and international projects.
Source: IANS